Worksheet: Monopoly Suppose that Comcast has a cable monopoly in Philadelphia. The following table gives Comcast's demand and cost per month for subscriptions to basic cable (for simplicity, we keep the number of subscribers artificially small): Total Marginal Quantity Revenue Revenue Total Cost Marginal Average Price (P) (Q) (TR) (MR) (TC) Cost (MC) Cost (AC) $27 3 $56 $26 4 $73 $25 $91 $24 6 $110 $23 7 $130 $22 8 $151 a) Find TR, MR, AR, and MC. Fill it in the table above. b) In the provided information above, what makes the above market a monopoly? c) What quantity of CDs would maximize profit? What would the price be? What would the profit be? d) Graph the MR, MC and demand curves. At what quantity do the MR = MC? What does it signify? Show the areas representing TR, TC and profit